Feb. 27, 2020

The Insurance Regulatory and Development Authority of India (IRDAI) has set up a nine-member committee under Chairmanship of G Srinivasan (former CMD of New India Assurance) to study the feasibility of allowing life insurers to offer indemnity-based health policies.


  • As of now, only general insurance firms and specialised health insurance companies are allowed to offer indemnity-based health policies.

  • IRDAI (Health Insurance) Regulations 2016 allow life insurance companies to offer benefit based health insurance products only.

  • The IRDAI move follows intense lobbying by private life insurance companies for an entry into the fast-growing health insurance segment.